Stifel Nicolaus Trims Snowflake (NYSE:SNOW) Target Price to $200.00

Snowflake (NYSE:SNOW) had its target price trimmed by Stifel Nicolaus from $220.00 to $200.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on SNOW. Bank of America dropped their price target on shares of Snowflake from $212.00 to $200.00 and set a neutral rating on the stock in a research report on Wednesday, May 15th. Citigroup decreased their price target on Snowflake from $290.00 to $240.00 and set a buy rating for the company in a report on Monday, March 4th. UBS Group boosted their price objective on Snowflake from $185.00 to $190.00 and gave the company a neutral rating in a research note on Thursday. Raymond James raised their target price on Snowflake from $190.00 to $223.00 and gave the stock an outperform rating in a research note on Friday, February 2nd. Finally, JPMorgan Chase & Co. boosted their price target on Snowflake from $170.00 to $185.00 and gave the company an overweight rating in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $200.64.

Snowflake Trading Up 1.0 %

Shares of Snowflake stock opened at $156.16 on Thursday. The company has a 50 day moving average of $157.03 and a 200-day moving average of $180.46. Snowflake has a 1-year low of $138.40 and a 1-year high of $237.72. The company has a market cap of $52.19 billion, a PE ratio of -55.77 and a beta of 0.90.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.05. The company had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.54%. Research analysts forecast that Snowflake will post -1.83 earnings per share for the current year.

Insider Activity

In other news, Director Mark D. Mclaughlin bought 3,030 shares of the stock in a transaction dated Wednesday, March 6th. The stock was purchased at an average price of $165.45 per share, for a total transaction of $501,313.50. Following the acquisition, the director now owns 11,687 shares of the company’s stock, valued at $1,933,614.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Grzegorz Czajkowski sold 683 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction of $110,249.86. Following the completion of the transaction, the executive vice president now owns 86,208 shares in the company, valued at approximately $13,915,695.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark D. Mclaughlin acquired 3,030 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was acquired at an average cost of $165.45 per share, for a total transaction of $501,313.50. Following the transaction, the director now directly owns 11,687 shares in the company, valued at $1,933,614.15. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 62,380 shares of company stock valued at $9,803,625. 8.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Snowflake

Several institutional investors have recently made changes to their positions in the company. Accent Capital Management LLC purchased a new position in shares of Snowflake in the 4th quarter valued at $25,000. LRI Investments LLC purchased a new position in Snowflake in the first quarter valued at about $29,000. Provence Wealth Management Group purchased a new position in Snowflake in the third quarter valued at about $30,000. Global Wealth Management Investment Advisory Inc. raised its holdings in Snowflake by 89.0% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock worth $31,000 after purchasing an additional 97 shares in the last quarter. Finally, Riverview Trust Co purchased a new stake in shares of Snowflake during the first quarter valued at about $31,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

About Snowflake

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.